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Dibakar Banerjee's Shanghai has opened to critical acclaim and mixed response at the box office. Trade pundits predict that the political drama will collect Rs.16 crore in the first three days of its release.

Made on a budget of Rs.19 crore, including marketing and promotion, Shanghai, according to Banerjee, broke even before its release through the sale of its satellite and music rights.

The director also said that he had to recover only Rs.4.75 crore from theatrical release to be profitable, but with Rs.16 crore earnings, it is already a profitable venture.

Distributed by PVR Pictures, the film has been released with 1,200 prints and after witnessing a slow start on the first day, it picked up on the weekend.

"Friday was a little slow for Shanghai, but the movie picked up on Saturday and Sunday. We are expecting better response in the week ahead. Due to its serious nature, its more of a multiplex kind of film," Anant Verma, director and business head, DT Cinemas told IANS.

Rajesh Thadani, Multimedia Combines, Mumbai told IANS that the film had 15 to 20 per cent occupancy Friday. "Saturday was still better but not the way we expected. There was not a major pick up on Sunday either," he added.

Described as a slice of today's India, Shanghai, which released Friday, boasts of a host of talented actors - from Bengali superstar Prosenjit to Bollywood actors Abhay Deol, Emraan Hashmi and Kalki Koechlin.

"Multiplexes have got a good response but single screen does not have much bookings. Theatres in South Delhi and Gurgaon have got good footfall. Delhi, Punjab, Uttar Pradesh got an opening of Rs.1.20 crore," Delhi based distributor Joginder Mahajan told IANS.

Vinay Choksey of VIP Exhibitors, Mumbai, supports Mahajan and said: "I opened with 20 to 25 percent occupancy Firday. Today also there has been an okay response."

The film is getting a tough fight from Akshay Kumar's "Rowdy Rathore" as the audiences preferring it over serious Shanghai.

"It's vacation time, families are coming together for 'Rowdy Rathore", they don't want to watch a serious film like Shanghai," said Mahajan.